PE-Backed Soltas Snaps Up Sunergy America

Soltas Energy Corp., the New York-based portfolio company established by NY PE firm Barron Partners, has bought a majority stake in Sunergy America LLC, based in New Jersey. Specifics on the deal were not publicized. Sunergy America provides solar power services across the state of New Jersey. The company is evaluating additional markets for expansion.

PRESS RELEASE:

Soltas Energy Investment Positions Sunergy America to Lead New Jersey’s Commercial Solar-Power Expansion
NEW YORK, Aug. 09, 2011 – Soltas Energy Corporation, established by New York private equity firm Barron Partners to accelerate and finance the installation of commercial solar-power projects across the U.S., announced today that it has taken a majority position in Sunergy America LLC of Wall, NJ.
A leading New Jersey electrical contractor since 1975, Sunergy America provides solar-power services to government entities, utility companies, commercial businesses, schools, and real estate developers throughout New Jersey. The company’s incorporation into Soltas Energy enhances the best-in-class expertise and solar-power-provider services capacity that Soltas is deploying across the U.S. while strengthening the ability of Sunergy America to build solar-power plants for businesses across N.J.
“We are impressed with the management team at Sunergy,” Soltas Energy CEO Andrew Barron Worden said. “Sunergy CEO Nick Karis has more than 30 years of construction industry experience and he maintains strong business relationships across the state. President and Co-Founder Bruno D’Uva brings invaluable expertise in alternative, sustainable energy and electrical engineer, Hugo Pedernera has 17 years of experience in all facets of photovoltaic design and integration.
“Sunergy’s rock-solid management team makes Soltas an important player in the second-largest market for commercial solar power in the U.S.,” Worden said.
Sunergy’s Karis said, “We are proud to be part of the Soltas team. We feel the company truly shares our vision of affordable, clean solar energy and will be a powerful partner in helping us develop the tremendous potential in this region.”
“Soltas Energy’s investment gives us the strategic capability we need to grow and to create jobs and contribute to a healthier environment. We are in a very strong position to expand in the rapidly growing solar installation market in New Jersey and beyond,” Sunergy’s D’Uva said.
Sunergy joins Soltas Energy Corporation with two other well-established solar services and installation companies: Choice Solar Solutions, Inc., of Nashville, Tenn. and Aegis Solar Energy, Inc., of Branford, Conn. Soltas Energy has extensive national project financing capabilities and is actively evaluating regional companies in additional markets, such as the Southwest, to add to its team of solar companies.
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Sunergy America LLC, is a Soltas Energy company and part of its network of experienced solar-power station design, installation and maintenance providers. Headquartered in Wall, N.J., Sunergy America is a leading provider of commercial solar-power in the U.S. mid-Atlantic region. For more information about Sunergy America, visit www.sunergyamerica.com.
Soltas Energy Corporation, a Barron Partners Company, is a industry leader in PV solar-power station installations. We understand how employing the right business strategy can turn PV solar power into a viable energy option for commercial and government customers, by delivering cost-effective energy solutions that save money, while improving the environment. Based on decades of renewable energy experience and established industry relationships, Soltas Energy and our regional holding companies are making state-of-the-art PV solar-power stations smart and cost-effective solutions for power generation in a rapidly growing number of states. For more information about Soltas Energy, visit www.soltasenergy.com.
Barron Partners LP is an international private investment fund with a primary focus on profitable cleantech companies. Barron has invested over $450 million of its capital since its formation in 2002. For more information about Barron, visit www.barronpartners.com